Why GT Advanced Technologies (GTAT) Stock Continues To Decline Today

NEW YORK (TheStreet) -- Shares of GT Advanced Technologies Inc. (GTAT) are falling by 8.30% to $13.70 in pre-market trading on Wednesday, one day after Apple (AAPL - Get Report) announced the new iPhone 6 and iPhone 6 Plus will not feature screens made with the company's sapphire glass, Reuters reports.

Additionally, GT Advanced Technologies was downgraded to "neutral" from "buy," and its price target was cut to $14 from $20 at Goldman Sachs (GS - Get Report) .